Atul Ltd 2009-10

Corporate Identity Serving Diverse Industries Purpose and Values Overview by the Chairman Operational Highlights Financial Analysis Research and Technology Safety, HealthandEnvironment Serving the Society Directors’ Report Management Discussion andAnalysis Report on Corporate Governance Financial Statements Reserves and Surplus The reserves and surplus increased by 6% from Rs 429 crores to Rs 455 crores during the year owing to profit earned. Loan Funds The reliance on external funds decreased by 20% from Rs 368 crores to Rs 295 crores due to utilisation of cash generated from operations to repay debts along with control over working capital levels. Secured loans constituted 88% of the total loans. Of the secured loans, 19% was for funding working capital requirements; the balance was used in projects. Foreign currency loans constituted 22% of the total debt. The Company remained reasonably geared with the ratio of total debt to total equity at 0.56:1. Applications of Funds Fixed Assets Additions to Fixed Assets During the year, the Company invested Rs 25 crores in Fixed Assets. The business-wise spends are outlined below: Business Rs Crores Pharmaceuticals and Intermediates 9 Bulk Chemicals and Intermediates 4 Colors 3 Others 9 Depreciation Depreciation increased by 18% over the previous year, corresponding to the increase in plant, machinery and building. Cumulative depreciation as a part of total gross block was 58%. 2005-06 2006-07 2007-08 2008-09 2009-10 Debt-equity ratio Rs Crores 0.56 1.20 1.17 0.95 0.77 2005-06 2006-07 2007-08 2008-09 2009-10 Reserves and Surplus Rs Crores 455 243 270 403 429 CAGR 22%